Question 2 Presented below are selected transactions at Ridge Co: Jan.1.2015: Retired a piece of machine that was purchased on Jan.1.2011 the mach ine cost $60,000 on that date. It had useful life 5 years with no salvage value. June .30.2014: Sold computer that was purchased on Jan.1.2011.the computer cost $45,000.it had a useful life 5 years with no salvage value the computer was sold for 1 4,000 Apr. 1.2014: Sold Equipment that was purchased on Jan.1.2012 the co mputer cost $80,000.it had a useful life 8 years with no salvage value th e computer was sold for 14,000 Required: Prepare the journal entries for the above transactions assuming the co mpany uses the straight line method for depreciation expense